Skip to content

    Azad Engineering Limited

    Precision manufacturer of mission-critical forged and machined components for aerospace, defence, energy and oil & gas OEMs.

    Capital Goods
    Industrials
    View AZAD earnings calls
    ₹2,095.2
    +2.78% from avg

    Overview

    Price

    ₹2,095.2

    Market Cap

    ₹15.8k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital222212131313
    Reserves85911182026331.4k1.5k1.5k
    Borrowings618719730039252300464
    Other Liabilities49778785113185162179
    Total Liabilities1982574045897971.9k1.9k2.2k
    AssetsFixed Assets101114137210257414522756
    CWIP0024384580155257
    Investments76660000
    Other Assets901362373354941.4k1.3k1.2k
    Total Assets1982574045897971.9k1.9k2.2k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating373421-10-763-123
    Cash from Investing-28-29-114-101-55-923-70
    Cash from Financing-779612671873177
    SummaryCapital Expenditure
    Free Cash Flow812-96-94-78-212-694
    FCF Margin

    Valuation

    Assumptions

    Current — AZAD
    Price
    ₹2,095
    EPS (TTM)
    ₹18.59
    PE (TTM)
    112.7
    Profit growth
    63.3%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (90.2×) and current (112.7×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹2,095
    vs
    Fair value · 15% return
    ₹10,425
    398%Undervalued

    At 63.3% growth and a 90× exit, ₹2095 only delivers your return if you pay ₹10,425. The price is currently baking in 22% growth.

    EPS grows 63.3%/yr for 5 years, then fades to 6% over 2, exits at 90×.

    YearGrowthEPS (₹)
    FY2763.3%30.36
    FY2863.3%49.57
    FY2963.3%80.95
    FY3063.3%132.20
    FY3163.3%215.88
    FY3234.7% ·fade290.68
    FY336.0% ·fade308.12

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Azad Engineering Limited

    Guides on how to read this kind of business and the numbers that matter.